India Quotient-backed lendingtech company Lendingkart, which primarily provides loans to micro, small and medium enterprises (MSMEs), has appointed Mukund Barsagade as its group chief financial officer.
Barsagade has over 28 years of expereiance in the BFSI and IT sectors. Prior to joining Lendingkart, Mukund was the CFO of Paytm Payments Bank, where he oversaw the financial management of the digital bank. Paytm Payments Bank offered a range of banking and payment services to millions of customers until the Reserve Bank of India, in February, barred it from offering its services.
In his capacity as Group CFO at Lendingkart, Mukund will be leading the finance, capital markets, legal and secretarial functions, playing a pivotal role in shaping the company’s next phase of growth.
“The lending tech space for MSMEs is a fast-growing opportunity. I look forward to working with the team and together, we will surely aid in achieving the company’s goal of simplifying finances for MSME’s across the country,” said Barsagade, group CFO, Lendingkart.
Barsagade is a qualified chartered accountant and holds a diploma in International Financial Reporting (DipIFR) from Association of Chartered Certified Accountants (ACCA), UK. He has worked with large organisations such as GE Capital, Experian, Transamerica, Utkarsh Small Finance Bank and Fino Payments Bank, in various finance leadership roles.
“Mukund’s deep financial and business experience, strategic acumen and leadership qualities make him a vital addition to our team. He will be critical in helping to drive the step-up in Lendingkart’s performance that we are all determined to deliver,” said Harshvardhan Lunia, founder and chief executive officer, Lendingkart Group.
Lendingkart was founded by Lunia in 2014. The company provides capital access to MSMEs, and competes with other companies in the same space, such as Aye Finance, Clix Capital, NeoGrowth, and FlexiLoans. It also runs fintech platforms—2gthr, Cred8, Xlr8 and Collec10—aimed at enhancing the lending capabilities of banks and other lenders.
